Intraday lows reach -20%
The US major indices all hit bear market levels today (-20% from the all time highs).
- The S&P index -20% level comes in at 2714.81. The low reached 2707.22
- The Nasdaq index -20% level comes in at 7870.69. The low reached 7850.945
- The Dow -20% level comes in at 23654.85. The low reached 23328.32.
The closing levels for the day are showing:
- S&P index -140.85 points or -4.89% at 2741.38. The low reached 2707.22. The high extended to 2825.60
- Nasdaq index fell minus 392.20 points or -4.7% at 7952.05. The low for the day reach 7850.945. The high extended to 8181.35
- Dow fell -1464.94 points or -5.86% at 23553.22. The low for the day reached 23328.32. The high for the day extended to 24604.63
In addition to each of the major indices falling over 20% from the high, the Dow industrial average fell below its 200 week moving average at 23619.19. The price also close below that 200 day moving average. If the week closes below the 200 week moving average, it would be the 1st time since October 1, 2010.
The NASDAQ index is also dipped below its 100 week moving average at 7906.97. The price closed above that moving average level.
The next major target for the S&P is at its 200 week moving average at 2640.22. The low price today at 2707.22 is still 67 points away.